Baxter International Inc. (NYSE:BAX) Short Interest Up 12.6% in August

Baxter International Inc. (NYSE:BAXGet Rating) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 5,090,000 shares, a growth of 12.6% from the August 15th total of 4,520,000 shares. Based on an average daily volume of 3,180,000 shares, the days-to-cover ratio is currently 1.6 days. Approximately 1.0% of the company’s stock are short sold.

Baxter International Price Performance

Shares of NYSE BAX opened at $56.58 on Wednesday. The business’s 50 day moving average price is $60.39 and its 200 day moving average price is $68.81. The firm has a market cap of $28.49 billion, a P/E ratio of 28.14, a P/E/G ratio of 2.11 and a beta of 0.60. Baxter International has a 52 week low of $54.45 and a 52 week high of $89.70. The company has a quick ratio of 1.33, a current ratio of 2.01 and a debt-to-equity ratio of 1.83.

Baxter International (NYSE:BAXGet Rating) last issued its earnings results on Thursday, July 28th. The medical instruments supplier reported $0.87 EPS for the quarter, meeting analysts’ consensus estimates of $0.87. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.88 billion. Baxter International had a return on equity of 21.75% and a net margin of 7.12%. Baxter International’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 earnings per share. On average, sell-side analysts expect that Baxter International will post 3.63 earnings per share for the current year.

Baxter International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be given a $0.29 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $1.16 annualized dividend and a yield of 2.05%. Baxter International’s dividend payout ratio is presently 58.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Baxter International from $99.00 to $69.00 in a report on Friday, July 29th. The Goldman Sachs Group restated a “sell” rating and set a $60.00 price objective (down previously from $70.00) on shares of Baxter International in a report on Wednesday, August 3rd. Cowen cut their price objective on shares of Baxter International from $95.00 to $70.00 in a report on Friday, July 29th. Morgan Stanley cut their price objective on shares of Baxter International from $86.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, July 29th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Baxter International from $90.00 to $78.00 and set an “overweight” rating on the stock in a report on Friday, June 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Baxter International currently has a consensus rating of “Moderate Buy” and an average price target of $77.69.

Institutional Investors Weigh In On Baxter International

Hedge funds have recently bought and sold shares of the stock. Rosenberg Matthew Hamilton boosted its position in Baxter International by 252.8% in the 1st quarter. Rosenberg Matthew Hamilton now owns 441 shares of the medical instruments supplier’s stock worth $34,000 after purchasing an additional 316 shares in the last quarter. Bogart Wealth LLC boosted its position in Baxter International by 500.0% in the 2nd quarter. Bogart Wealth LLC now owns 600 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 500 shares in the last quarter. CoreCap Advisors LLC purchased a new stake in Baxter International in the 2nd quarter worth approximately $43,000. Herold Advisors Inc. purchased a new stake in Baxter International in the 1st quarter worth approximately $47,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in Baxter International in the 4th quarter worth approximately $76,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Baxter International Company Profile

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Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; remixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit.

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